{ "media_type": "text", "post_content": "A bunch of friends and I have a potential real estate project in Mexico but one wants to obtain funding through crypto. We have financial and legal backgrounds but not much experience regarding crypto. \n\nIs it feasible to create a cryptocurrency to obtain this funding and if so, based on experience, how hard is it to promote / get the crypto rolling?", "post_id": "614b575fed5a9a00309e8508", "reply_count": 5, "vote_count": 4, "bowl_id": "58f9471ab298570010451a0a", "bowl_name": "Everything crypto" }

A bunch of friends and I have a potential real estate project in Mexico but one wants to obtain funding through crypto. We have financial and legal backgrounds but not much experience regarding crypto. Is it feasible to create a cryptocurrency to obtain this funding and if so, based on experience, how hard is it to promote / get the crypto rolling?

likefunny
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So you want to create a scam coin to fund your personal real estate investment project?

likefunnysmart

I think this was kinda possible in 2017. And I literally tried to do it then, but we failed, because of Mark Cuban saying this concept was a sleazy deal hidden behind shiny ‘tech’. What may eventually happen, is the “blockchain-ization” of real estate, for ownership entities and also, I think you will see real property being traded for crypto more and more (already happening) But buy a coin representing a share in a real estate deal? Still pretty scammy today. We need universal consensus around a way to apply the blockchain technology to “title” and LP interest. Then you get into fundraising rules and remember, property taxes and title. this is something I’m actually really interested in, but if only it were as easy as your question

If you are creating a crypto to fund a project you are issuing securities & would trigger the Howey rule/test ; meaning there would be all sorts of requirements & regulations to sell this in the US. Unless you plan to hire a development team to create & maintain this crypto there are so many problems that would arise it’s hard to even start. This is a bad idea all around.

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So you want to do a syndicate deal. First, this doesn’t need to be crypto as access to capital is fairly easy to get. In this case, you might prefer to get a single or few investors vs going decentralized. in this case, I’d probably seek the prior vs latter. That said if you’re wedded to the blockchain path there are also many ways. 1. You can set up a multi sig wallet between a few people and then build a smart contract that allows people to fund that pool and get a smart contract in return for their capital. 2. You can set up a Decentralized autonomous organization (dao) and then affiliate a multi sig wallet. Then follow the same path as above. I’d do this if you expect multiple investments and need a governance mechanism to run the business.

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